Collins English Dictionary
"
welfarenoun
1 health, happiness, prosperity, and well-being in general2 a financial and other assistance given to people in need
b (as modifier) ⇒ "welfare services"
3 Also called: welfare work. plans or work to better the social or economic conditions of various underprivileged groups
4 See the welfare
5 See on welfare
Word Origin
C14: from the phrase wel fare; related to Old Norse velferth, German Wohlfahrt; see well1, fare
Synonyms
View thesaurus entry
=
wellbeing, good, interest, health, security, benefit, success, profit, safety, protection, fortune, comfort, happiness, prosperity, prosperousness
= state benefit, support, benefits, pensions, dole, social security, unemployment benefit, state benefits, Jobseeker's Allowance, JSA, pogey"
http://www.collinsdictionary.com/dictionary/e..."
wellbeingnoun
the condition of being contented, healthy, or successful; welfare"
http://www.collinsdictionary.com/dictionary/e..."The word "welfare" has two very different meanings in economics. The most familiar meaning to the general public is that it refers to a collection of government programs such as food stamps and Medicare, usually intended to help the poor.
However, economists more often use the word "
welfare" in a very different sense--
as a synonym for wellbeing.
Welfare or
wellbeing refer to an overall condition, emphasizing happiness and contentment, though also including one's standard of living in financial or material ways."
http://www.econlib.org/library/Topics/College...Hi easy
I'm not going to comment on the use of the German terms, but in English "well-being" and "welfare" can be used synonymously in the right context.
HTH
